Psst: Want to get $5 of Bitcoin for free?

It sounds unbelievable because when you read about Bitcoin, it’s basically in terms of people investing tens of thousands or even millions of dollars.

But thanks to a new app, Gracias, brainchild of Deana Burke, you can receive $5 worth of free Bitcoin, no strings attached.

You can even refer your friends, as long as they’re over 13 years old. You’ll get $2 more of Bitcoin for every person who signs up.

More about the App

What’s this all about? Gracias is positioning itself to be the gateway to Bitcoin for Millennials and anyone who wants to take a flyer on the new form of currency without betting the ranch. When the pilot program ends and the market for Bitcoin on Gracias goes live in roughly 90 days, there will be a maximum of $500 per account.

“People are very excited about Bitcoin,” Burke says. “The idea came about when I gave $20 of Bitcoin to my employees in a previous venture. They were incredibly excited. It was then that I realized that more people want Bitcoin, but have no idea how to get started on their own, especially when they aren’t very technical. And that’s how Gracias was born.”

Concerns

Bitcoin may be the currency of the future, but it certainly has some challenges in the here and now. Volatility is an issue. It seems as though the only time Bitcoin finds its way into the news is when it has lost 40% of its value. That’s why Gracias has a $500 limit. The company doesn’t want people new to the investment to risk their shirts.

Another concern about Bitcoin is security. Blockchain might be the way trust is established in communities and across borders. But for the time being, security is still a work in progress. Hacks as high as $70 million have caused enormous losses for Bitcoin holders who assumed that their investments were safe.

“These issues are going to get worked out,” Burke says. “It may be the Wild West now, but things settle down. Security issues, volatility issues – as the currency becomes more widely accepted, it will be safer and you will be able to do more things with it.

“We are trying to provide the best, safest, most user-friendly method for individuals to experience Bitcoin for themselves.”

The Future of Bitcoin

Coming soon: frictionless, fearless, instantaneous, cross-border payments. “Today, if you want to send money say, to a friend or family member in India,” Burke notes, “you can FedEx a box of cash and it would probably be safer, not to mention cheaper, than if you wired the money. It would probably get there quicker too.

“Obviously, there is huge demand to be able to do cross-border payments instantaneously and with smaller fees. This is a vacuum that Bitcoin will fill, and this is one of the services we will be able to offer our customers down the road.”

Burke says she named the app Gracias because one of the best things about small denomination Bitcoin is the pleasure that people get from giving and receiving it.

“We also intend to be an international company,” she adds, “because the ability to do international transactions will only become more important as time goes on.”

The free $5 in Bitcoin is limited to the first 10,000 members who join, and the same is true for the $2 referral fee. So if you’ve ever wanted to get involved in Bitcoin, and actually get a taste of it for no money down and no money later, the Gracias app is the way to go.